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Debt Assignment Agreement Template for Ireland

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Key Requirements PROMPT example:

Debt Assignment Agreement

"I need a Debt Assignment Agreement governed by Irish law for transferring a €5 million commercial loan from AIB Bank to our private equity firm, with completion scheduled for March 15, 2025; the debt is secured against commercial property in Dublin."

Document background
The Debt Assignment Agreement is a crucial document used in Irish financial and commercial transactions when one party wishes to transfer its rights as a creditor to another party. This agreement is commonly used in debt trading, portfolio sales, corporate restructuring, and financial institutions' asset management. The document must comply with Irish law requirements, including the Succession Act 1965 and relevant financial services regulations. It typically includes detailed provisions about the debt being assigned, consideration, warranties, and any associated security interests. The agreement is particularly important in regulated sectors where Central Bank of Ireland requirements must be met. When drafting a Debt Assignment Agreement, special attention must be paid to consumer protection legislation if the underlying debt involves consumers, and to data protection requirements regarding the transfer of personal information.
Suggested Sections

1. Parties: Identifies the Assignor (current debt holder), Assignee (party acquiring the debt), and any other relevant parties

2. Background: Explains the context of the debt assignment, including the original debt arrangement and the parties' intention to assign

3. Definitions and Interpretation: Defines key terms used throughout the agreement and sets out interpretation rules

4. Assignment: Core provision detailing the assignment of the debt, including the effective date and scope of transfer

5. Consideration: Specifies the payment or other consideration for the assignment

6. Completion: Details the completion mechanics, including timing and delivery of documents

7. Assignor's Warranties: Warranties regarding the debt, title, and authority to assign

8. Assignee's Warranties: Warranties regarding authority to accept assignment and regulatory compliance

9. Data Protection: Provisions ensuring compliance with GDPR and Data Protection Act 2018

10. Further Assurance: Obligations to execute further documents or take additional steps if needed

11. Notices: Specifies how formal notices under the agreement should be given

12. Governing Law and Jurisdiction: Confirms Irish law as governing law and Irish courts' jurisdiction

Optional Sections

1. Security Assignment: Required when the debt is secured against assets, detailing the transfer of security rights

2. Regulatory Compliance: Additional provisions needed if either party is regulated by the Central Bank of Ireland

3. Consumer Protection: Required when the underlying debt involves consumer borrowers

4. Multiple Debts: Additional provisions for managing multiple debt assignments under the same agreement

5. Contingent Consideration: Required when the consideration includes performance-based or conditional elements

6. Indemnities: Optional enhanced protection for the Assignee regarding the assigned debt

7. Power of Attorney: Optional provision granting the Assignee power to act in the Assignor's name

8. Confidentiality: Detailed confidentiality provisions if not covered adequately in main confidentiality clause

Suggested Schedules

1. Schedule 1 - The Debt: Detailed description of the debt being assigned, including amount, interest rate, and payment terms

2. Schedule 2 - Security Details: Details of any security associated with the debt

3. Schedule 3 - Required Notices: Forms of notices required to perfect the assignment or notify relevant parties

4. Schedule 4 - Completion Requirements: List of documents and actions required at completion

5. Schedule 5 - Warranties: Detailed warranties about the debt and related matters

6. Appendix A - Original Debt Documentation: Copies or details of the original debt agreement and related documents

7. Appendix B - Notice Forms: Template notices to debtors and other relevant parties

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºÚÁÏÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions















































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Relevant Industries

Banking

Financial Services

Debt Collection

Investment Management

Real Estate

Private Equity

Asset Management

Corporate Finance

Insurance

Credit Services

Debt Trading

Commercial Lending

Relevant Teams

Legal

Finance

Credit Risk

Compliance

Treasury

Debt Recovery

Portfolio Management

Investment

Commercial

Risk Management

Transaction Management

Corporate Finance

Relevant Roles

Legal Counsel

Finance Director

Credit Manager

Debt Collection Manager

Portfolio Manager

Risk Manager

Compliance Officer

Treasury Manager

Investment Director

Asset Manager

Commercial Director

Chief Financial Officer

Legal Director

Debt Recovery Specialist

Transaction Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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